SCHEDULE: FMR LLC Discloses 9.3% Stake in Sleep Number Corp

Sentiment:

Beneficial Ownership Disclosure 5 February 2026 1:36 PM

FMR LLC and Abigail P. Johnson have reported a beneficial ownership of 9.3% of Sleep Number Corp's common stock as of December 31, 2025.

Summary

FMR LLC and Abigail P. Johnson, through various entities, beneficially own an aggregate of 2,129,875.54 shares of Sleep Number Corp's common stock.
This beneficial ownership represents 9.3% of the total outstanding common stock of Sleep Number Corp.
FMR LLC holds sole voting power over 2,125,213.00 shares and sole dispositive power over 2,129,875.54 shares.
Abigail P. Johnson, as an individual, holds sole dispositive power over 2,129,875.54 shares, but no sole voting power.
The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sleep Number Corp.
Fidelity Management & Research Company LLC and Strategic Advisers LLC are identified as relevant entities within the FMR LLC group, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.
Abigail P. Johnson is the Director, Chairman, and Chief Executive Officer of FMR LLC, and members of the Johnson family, including Abigail P. Johnson, are the predominant owners of FMR LLC's Series B voting common shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as significant institutional ownership by a reputable firm like FMR LLC can instill investor confidence and validate the company's market position, even without an intent to influence control.

Positives

Significant institutional ownership by FMR LLC, a major investment management firm, may signal confidence in Sleep Number Corp's long-term prospects.
The disclosure of a 9.3% stake indicates a substantial investment, potentially attracting further investor interest and validating the company's market position.

Risks

The filing explicitly states that the securities were not acquired for the purpose of changing or influencing control of the issuer, mitigating immediate control-related risks from this specific ownership.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Sleep Number Corp's future performance or operations, as it is a disclosure of beneficial ownership.

Industry Context

StockSavvy.ai notes that the disclosure of a significant stake by FMR LLC, a prominent asset manager, often indicates a vote of confidence in the company's long-term strategy and market position within the consumer durables and home furnishings sector. Such institutional interest can be a positive signal for other investors, suggesting that the company has undergone thorough due diligence by a sophisticated investor.

Comparison to Industry Standards

FMR LLC's 9.3% stake in Sleep Number Corp is a substantial position for an institutional investor, placing it among the top holders. For comparison, major institutional investors like BlackRock and Vanguard often hold similar or larger passive stakes across numerous public companies, reflecting broad market exposure rather than active management intent to influence control.
The beneficial ownership percentage is significant enough to warrant attention, as stakes approaching 10% can sometimes lead to increased scrutiny or engagement from the holder, though the filing explicitly states no intent to influence control.

Stakeholder Impact

Shareholders may view the significant institutional investment by FMR LLC as a positive indicator, potentially leading to increased investor confidence and stability in the stock price.
The company's management might perceive this as validation of their strategy, though the filing explicitly states no intent to influence control.

Key Dates

Date	Description
2023-01-03	Effective date of Power of Attorney for FMR LLC.
2023-01-10	Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number: -23-000003) was incorporated by reference.
2023-01-26	Effective date of Power of Attorney for Abigail P. Johnson.
2023-01-31	Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number: -23-000038) for Abigail P. Johnson was incorporated by reference.
2025-12-31	Date of event which requires filing of this statement (beneficial ownership calculation date).
2026-02-04	Date of signing and filing of this Schedule 13G by FMR LLC and Abigail P. Johnson.

Recommendation

hold

The filing indicates a significant, but passive, institutional investment by FMR LLC in Sleep Number Corp. While this signals confidence from a major player, the filing itself does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. It primarily confirms a substantial existing stake, suggesting a 'hold' position for investors awaiting further fundamental updates on the company's performance.

Keywords

Sleep Number Corp, SNBR, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Fidelity

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